Bank of NY launches investment fund co. in Poland

KathieO'Donnell

BOSTON(MarketWatch) -- The Bank of New York Co. said Tuesday it has registered an investment fund company in Poland called BNY National Trust TFI SA. BNY National Trust plans to offer a number of investment funds including private equity, hedge funds and real estate. The company's first fund will be a closed-end private equity investment fund offering a portfolio of private equity funds and direct investments in established privately held companies. The fund's primary investment objective will be to seek capital growth, with income as a secondary objective. Shares of Bank of New York
BK, -2.04%
fell 6 cents to $34.70 in Tuesday morning trade.

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